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Will Stock Market Tanking Hurt BG Attendance?

Posted By: Barry Silliman
Date: Tuesday, 30 September 2008, at 7:42 a.m.

In Response To: Will Stock Market Tanking Hurt BG Attendance? (Bill Riles)

Bill, you strike me as a conservative free-market guy and so do you honestly think anything Washington puts together is going to do more good than harm in the long run? I don't. This country is going to take its lumps for a while no matter what does or does not get enacted. I'm not so sure we're not just throwing good money after bad now and maybe it's better to just take our lumps now and let the private sector sort it out rather than take one of the biggest steps down the socialist path that's ever been taken in this country. Under a Republican watch no less.

This country is in for a rough patch whether or not Congress would have passed the Paulson plan exactly as he wanted it, does nothing, or passes anything in between.

My view is that the root cause of this crisis is a classic case of liberal good intentions gone bad- let's give everyone a mortgage regardless of ability to pay so that we can all be part of the American dream- aided and abetted with plenty of encouragement from Fannie Mae and Freddie Mac, two institutions with strong ties to the Democrat party, which I view as the party most to blame for this mess. Then throw in some good old-fashioned greed on Wall Street, predatory lenders, speculators and others. Oh and here's a really great idea- let's slice and dice all these crap-assed mortgages into these amazingly complex securities that nobody even understands and spread them throughout the global financial system like a virus. That was a really good idea.

One might even wonder if it was intentional. The U.S.A. is kind of like the Dallas Cowboys or the New York Yankees. If you're from those places, you love those teams, but a lot of the rest hate 'em and are jealous because they win so much.

Now to tie this rant into backgammon- maybe we'll need to change the name of the Calcutta auction to something like the 'Lower Manhattan Auction' or the 'Bad Sub-Prime Mortgage Collateralized Debt Obligation Credit Default Swaps Auction'.

Here is one of the rules when I am elected President - if a financial instrument, product or transaction can't be explained in 60 seconds to a person of average intelligence, it is illegal.

Responses welcome. I'm a political junkie. Rollouts bore me.

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